This invention relates generally to a system for processing financial transactions and, in particular, to a system for efficiently and reliably completing a banking transaction in which the customer directly enters financial information at a remote terminal unit.
Financial institutions are constantly striving to improve the quality of their services, but without incurring any additional expenses to provide these improved services. Thus, in order to be marketable, any new system must be cost-effective; the processing cost per item must be lower than current systems when comparing the same processing functions and volumes. These costs can be broken down into the following categories: capital costs and operating costs. In the financial industry, a major portion of the operating costs is expended in the area of teller operations, data entry and proof operations, and error reconciliation.